Nearly five years after Channing Tatum and Jenna Dewan finalized their divorce, they are still working out details regarding their settlement, specifically focusing on the money earned from the Magic Mike franchise. Dewan is requesting half of Tatum’s intellectual property earnings from Magic Mike, claiming they had agreed to split it equally. The film, which has spawned sequels and stage productions, was developed using community effort and marital funds, according to Dewan.
Aside from their disagreements over Magic Mike earnings, both Dewan and Tatum have multiple sources of income. Dewan primarily earns from her acting work, including her current role on ABC’s The Rookie, as well as royalties and brand partnerships. She also co-founded a production company and owns a home where she lives with her daughter, Everly, as well as her fiancé, Steve Kazee, and their son. Tatum, on the other hand, is also an actor and co-owns a production company. He has investments in various companies and has made significant earnings from Magic Mike and its related properties.
Magic Mike has been a highly profitable venture, with the films grossing millions at the box office and the stage shows selling tickets worth over $125 million. Dewan and Tatum’s legal case had a hearing where Dewan’s lawyer accused Tatum of hiding assets related to Magic Mike in complex structures to conceal their true value. Dewan is requesting a separate trial to determine her entitlement to the Magic Mike assets and what fiduciary duties Tatum owes her.
Tatum’s lawyers denied the allegations of hiding assets, stating that all transactions were conducted at arm’s length and that he had never acted to the detriment of the community property or Dewan. They claimed that Magic Mike became more profitable after the couple separated in 2018 and emphasized that Tatum had not denied Dewan a share of their community income. Once the Magic Mike dispute is settled, Dewan is willing to work on an agreement regarding other assets and custody arrangements for their daughter, Everly.
The legal battle between Dewan and Tatum revolves around the significant earnings from the Magic Mike franchise, with Dewan seeking a fair share of these profits. While both parties have multiple sources of income from their acting careers and other investments, Magic Mike has proven to be a particularly lucrative venture. As they continue to navigate through their divorce settlement, Dewan and Tatum are working towards a resolution that will not only address their financial assets but also their custody arrangements for their daughter.
